Strategy Overview
Strategy Description
The Integrated Fixed Income Credit strategy combines top-down macroeconomic analysis and bottom-up credit research, with an emphasis on security selection, with the goal of generating consistent outperformance across all market environments.
This strategy, benchmarked against 100% corporate exposure, utilizes the full breadth of the IFI team’s specialized credit expertise to identify attractive credit risk/reward opportunities, including select allocations to out-of-index opportunities to generate incremental alpha, all while prioritizing capital preservation and liquidity.
Key Differentiators
- Experienced fixed income team working together for over 20 years with specialized credit sector responsibilities
- Proven ability to consistently outperform across market cycles
- Flexible multi-discipline approach with an emphasis on credit research and issuer selection
- Core fixed income strategy focused on capital preservation, liquidity, and targeting superior risk-adjusted returns
- 100% corporate-benchmarked strategy leveraging the full breadth of the IFI credit research process, including targeted allocations to out-of-index alpha enhancing opportunities
Highlights
- Inception Date
- March 1, 2012
- Assets Under Management ($M)
- $3,033 (As of March 31, 2026)
- Price
- $9.8457 (As of July 24, 2026)
- Last Distribution Paid ($)
- $0.0386 (June 30, 2026)
- Style
- Active fundamental bottom-up and top-down investment approach emphasizing credit research
- Process
- Integration of bottom-up and top-down analysis
- Expected sources of added value
- 50% Issuer selection, 35% Sector allocation, 15% Duration and yield curve
- Turnover
- Moderate
- Duration
- Benchmark ± 0.3 year
Performance
Performance Per Period (%)
| Q1 2026 | YTD - 2026 | 1 Y | 3 Y | 5 Y | 10 Y | SI | |
|---|---|---|---|---|---|---|---|
| IFI - Credit Composite | 0.22 | 0.22 | 3.23 | 6.23 | 2.74 | 3.57 | 3.78 |
| FTSE Canada Corporate Universe | 0.14 | 0.14 | 2.77 | 5.67 | 2.25 | 3.07 | 3.42 |
| Value Added | 0.08 | 0.08 | 0.46 | 0.56 | 0.49 | 0.50 | 0.36 |
| IFI - Credit Composite | 0.22 |
|---|---|
| FTSE Canada Corporate Universe | 0.14 |
| Value Added | 0.08 |
| IFI - Credit Composite | 0.22 |
|---|---|
| FTSE Canada Corporate Universe | 0.14 |
| Value Added | 0.08 |
| IFI - Credit Composite | 3.23 |
|---|---|
| FTSE Canada Corporate Universe | 2.77 |
| Value Added | 0.46 |
| IFI - Credit Composite | 6.23 |
|---|---|
| FTSE Canada Corporate Universe | 5.67 |
| Value Added | 0.56 |
| IFI - Credit Composite | 2.74 |
|---|---|
| FTSE Canada Corporate Universe | 2.25 |
| Value Added | 0.49 |
| IFI - Credit Composite | 3.57 |
|---|---|
| FTSE Canada Corporate Universe | 3.07 |
| Value Added | 0.50 |
| IFI - Credit Composite | 3.78 |
|---|---|
| FTSE Canada Corporate Universe | 3.42 |
| Value Added | 0.36 |
Past performance is not a guarantee or indicator of future results. Inherent in any investment is the risk of loss.
Composite performance, gross of management fees.
Performance returns are annualized for periods of 1 year and up.
Investment Team
The team is supported by two analysts and benefits from the expertise of our entire fixed income team, which boasts two distinct trading desks in Montreal and Toronto.
Additional Strategies
Managed by the Team
Documents
Important Disclosures
Nothing on this website should be viewed as a recommendation, offer or solicitation to buy or sell any security or investment and does not constitute investment, legal, tax or accounting advice. Services are offered only to qualified investors and only in accordance with applicable laws and regulations in each relevant jurisdiction. Information is believed to be accurate as of the publication date but may change without notice; no warranty is provided, and Fiera Capital and its affiliates disclaim liability for its use.
Past performance is not a guarantee of future results. Inherent in any investment is the potential for loss. Target returns are aspirational, forward-looking and do not represent actual performance. There is no guarantee that such performance will be achieved, and actual results may vary substantially. Metrics (e.g., exposures, ratios, characteristics) are for reference only and may not capture all relevant factors. Different metrics may lead to materially different conclusions; Any specific holdings mentioned are for illustration only, and may not represent the full portfolio, past holdings, or future positions. Indices are unmanaged, not investable, and do not reflect fees or expenses. Index comparisons are provided for context and portfolio holdings may differ significantly from those of any index; All investment strategies involve risks, including market, economic, financial, operational, liquidity, valuation, and regulatory risks. Certain strategies may use leverage, derivatives, or concentrated exposures, which can increase volatility and risk of loss; No strategy, diversification approach, or risk management technique can eliminate risk, or guarantee returns in all market environments; Investors should review relevant governing documents and consult their own advisers before making investment decisions.
Environmental, social, governance (“ESG”) or impact related goals, commitments, or initiatives referenced on this website are voluntary, may not apply uniformly across strategies, and may be modified or discontinued at Fiera Capital’s discretion. ESG-related processes do not guarantee any specific investment outcome.